UPDATE 1-Kuwait's Boubyan Bank to sell $750 mln 5-yr sukuk

(Updates with size)

DUBAI, Feb 11 (Reuters) - Kuwait's Boubyan Bank
plans to sell $750 million in five-year sukuk, or Islamic bonds,
at 120 basis points (bps) over mid-swaps, a document showed on
Tuesday.

The debt sale, which is expected to close later on Tuesday,
garnered over $4.3 billion in orders, the document by one of the
banks arranging the deal said.

Boubyan Bank began marketing the notes at around 150 bps
over mid-swaps earlier on Tuesday.

HSBC and Standard Chartered were hired as
joint global coordinators for the deal. Bank ABC, Boubyan
Capital, First Abu Dhabi Bank, Islamic Corporation for the
Development of the Private Sector, KFH Capital, Kuwait
International Bank and Warba Bank are also involved in arranging
the deal.

The deal follows a series of banks' debt deals in the
region, as lenders tap investors despite uncertainty surrounding
the new coronavirus outbreak.

Dubai's largest bank Emirates NBD raised $500
million in bonds on Monday, and Saudi Arabia's Riyad Bank
announced on Tuesday plans to issue dollar sukuk.
(Reporting by Yousef Saba, editing by Davide Barbuscia and
Louise Heavens)